1. 1 | P a g e
Evening Market Report
WealthRays Research Desk
Evening Market Report 29th October, 2014
Nifty goes Boom Boom; Touches 5 Week High as Metals and Realty Shine Indian Markets Indian benchmark indices opened higher tracking positive cues from Wall Street after Dow reclaiming 17000 levels. Nifty gapped up 49 points in today’s session and continued to remain in positive closing at 8090.45 up by 0.78%. Nifty was supported by metal index which gained 2.73% and Realty which was up by 3.12% and auto companies. Hindalco was the top gainer in today’s session as government is likely to increase FDI in construction sector. The upside was limited due to fall in banking stocks after Moody’s maintained their negative outlook on Indian Banking System. USD INR pair opened at 61.25 up 07 paisa tracking positive cues from global markets as Dow was seen up. Indian indices were seen trading with positive bias which supported rupee, however month end demand for dollar from importers weighed pressure on rupee brining back to 61.35 levels. Major Asian currencies were seen trading strong while USD index is seen marginally up. Investors are cautious ahead of Fed meet that would end today after market hours.
Other Asian Markets Tracking the positive cues from Wall Street Asian indices were seen trading strong in today’s session closing more than 1%. NIKKIE was up after September industrial production data released which boosted the sentiments. While Hang Seng index gained 1.27% to close at 23819.87 and SSE Composite closing 1.5% up. KOSPI was seen up by 1.84% on back of strong corporate earnings.
Sectors Snapshot
Bank Nifty: Bank Nifty opened higher tracking global markets but erased all its gains on report that Moody’s maintain their negative bias on domestic banking system. PNB was the major loser falling 1.80% followed by Bank of Baroda.
CNX Energy: Energy index opened higher and traded in green as crude continued to stay at lower levels. Cairn India was the top gainer gaining 2.47%. However some profit taking was seen in OMC’s. NTPC fell by 1.02%.
CNX Pharma: Pharma fell and could not maintain the gains after Dr. Reddy’s showed weak results and profit booking was seen in Ranbaxy and Sun pharma. Ranbaxy was the major loser falling 1.64% followed by Dr. Reddy’s.
CNX Media: Media index gained slowly in today’s session and was up by 1.06% supported by PVR (+3.96), HT Media (+3.81) and Sun TV Network (+3.13).
India VIX: India VIX was down by 2.38%% as Indian markets were seen positive.
Index
Close
Open
Previous Close
Change (%) S&P BSE SENSEX 27098.17 27017.44 26880.82 0.81
CNX NIFTY
8090.45
8077.05
8027.6
0.78
Index
Close
Open
Previous Close
Change (%) Hang Seng Index 23819.87 23703.95 23520.36 1.27
NIKKEI 225 Day
15553.91
15442.39
15329.91
1.46 KOSPI Composite 1961.17 1938.8 1925.68 1.84
SSE Composite
2373.03
2343.72
2337.871
1.5
Name
Close
Open
Change (%) BANK NIFTY
16634.05
16770.2
-0.2
CNX AUTO
8103.7
8046.2
1.64 CNX ENERGY
9396.75
9354.2
0.95
CNX FINANCE
6681.2
6727
-0.11 CNX FMCG
19199.6
19089.5
1.22
CNX INFRA
3179.4
3198.95
0.16 CNX IT
10912.3
10767.4
1.63
CNX MEDIA
2128.2
2113.55
1.06 CNX METALS
2896.1
2828.9
2.73
CNX PHARMA
10652.05
10746.85
-0.23 CNX REALTY
191.65
187.05
3.12
INDIA VIX
13.005
13.3225
-2.38
2. 2 | P a g e
Evening Market Report
WealthRays Research Desk
Evening Market Report 29th October, 2014
Market Movers
Gainers
Sun Pharma: Hindalco rallied along with other stocks and was the top gainer on Nifty today as Global Metal prices shot up ahead of Fed minutes along with Equity Markets. The Union Cabinet is likely to propose increase in FDI in construction sector which brought more Investors into metal stocks. Shares were up by 6.23% to close at 156.9.
Losers
PNB: Shares of PSU’s bank were down after good opening as Moody’s said that their outlook remains negative for Indian banking system. While Punjab National Bank was the top loser amongst the Nifty constituents falling 1.82% to close at 904.8.
Commodity Outlook: Commodity Market was range bound in the morning session. Gold and silver prices traded sideways today as Investors were cautious ahead of the Fed minutes. Crude Oil Prices were up in the morning session while Natural Gas Prices were flat despite chilly weather forecasts in USA. Base metals showed strength ahead of Fed minutes as they rallied along with Equity markets. Outlook for Evening session: Gold and Silver prices are expected to remain flat in the Evening session; Crude Oil and Natural Gas are expected to make gains while Base Metals are expected to remain flat in the Evening session. Stock Recommendations: SSLT – Buy at `255.25(CMP); Target -`259.00; Stop Loss –`252.00 Hindustan Zinc – Buy at `171.85(CMP); Target -`174.00; Stop Loss – `169.00 Yes Bank – Buy at `638.3(CMP); Target -`645.00; Stop Loss – `632.00
Yesterday’s Recommendations Results:
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Top Gainers
Stock Open Close Change (%)
HINDALCO
148.2
156.9
6.23 DLF 112.1 118.15 6.15
TATA STEEL
454.1
471.7
4.54 JSPL 151 156.85 4.18
TATA MOTORS
515.5
526.2
3.45
Top Losers
Stock Open Close Change (%)
PNB
926.45
904.8
-1.82 BoB 924.8 906.3 -1.46
DR REDDY'S LAB
3076.5
3045.6
-1.15 NTPC 148.3 146.25 -1.02
SUN PHARMA
848
830.4
-0.98
ICICI Bank
Recommended BUY Price: 1601.25
TARGET: 1620.00
Today’s High: 1612.95
Today’s Closing: 1605.85
BPCL
Recommended BUY Price: 701.85
TARGET: 710.00
Today’s High: 718.00
Today’s Closing: 704.65
IOCL
Recommended BUY Price: 356.9
TARGET: 361.00
Today’s High: 361.70
Today’s Closing: 355.90
3. 3 | P a g e
Evening Market Report
WealthRays Research Desk
Evening Market Report 29th October, 2014
Disclaimer
The information and views presented in this report are prepared by WealthRays Securities Private Limited (hereinafter called WealthRays). The information contained herein is based on our analysis and upon sources that we consider reliable. We, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and we are not responsible for any loss incurred based upon it. The investments discussed or recommended in this report may not be suitable for all investors. Investors must make their own investment decisions based on their specific investment objectives and financial position and using such independent advice, as they believe necessary. While acting upon any information or analysis mentioned in this report, investors may please note that neither WealthRays nor any person connected with any associate companies of WealthRays accepts any liability arising from the use of this information and views mentioned in this document. For any queries write to research@wealthrays.com.WealthRays Securities Private Limited, Trading member of Madras Stock Exchange, NSE Cash Segment - SEBI Regn No. INB041423139 | NSE F&O Segment - SEBI Regn No. INF041423139 | WealthRays Commodities Trading Private Limited, Trading member of National Spot Exchange, Membership No. 57780 |
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